Wednesday 10, October 2018 by Bloomberg

Zimbabwe warns gasoline suppliers against demanding FX payment


Suppliers who demand payment in foreign exchange will have their licences to trade withdrawn.

“All those caught selling fuel at prices not approved by Zimbabwe Energy Regulatory Authority and those service stations either demanding payment in hard currency or engaging in other untoward trading will have their licences revoked," Vice President Kembo Mohadi told reporters in the capital, Harare, on Tuesday.

Zimbabweans have stocked up on goods after the authorities increased a tax on money transfers to two cents per dollar, from a flat rate of five cents per transaction, at the beginning of the month. Vehicles formed long lines at fuel stations over the weekend, prompting the head of the national oil company to say there’s enough gasoline to last six months.

A scarcity of foreign currency over the past two years has led to shortages of consumables including flour and cooking oil. Mohadi also warned it will take measures against supermarkets that sell goods at “exorbitant prices.”

“Government is warning those that have hiked prices and also those hoarding basic commodities in order to create artificial shortages to stop this malpractice forthwith,” he said. “Government will take stern measures against those who continue to engage in such malpractices, who are bent on inflicting pain on our people.”

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